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Question
If Laspeyre’s and Paasche’s Price Index Numbers are 50 and 72 respectively, find Dorbish-Bowley’s and Fisher’s Price Index Numbers
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Solution
Given, P01(L) = 50, P01(P) = 72
Dorbish-Bowley’s Price Index Number
P01(D-B) = `("P"_01("L") + "P"_01("P"))/2`
= `(50 + 72)/2`
= `122/2`
= 61
Fisher’s Price Index Number
P01(F) = `sqrt("P"_01("L")*"P"_01("P"))`
= `sqrt(50 xx 72)`
= `sqrt(3600)`
= 60
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